Deere & Company (NYSE:DE) Price Target Lowered to $580.00 at Robert W. Baird

Deere & Company (NYSE:DE) had its target price cut by analysts at Robert W. Baird from $675.00 to $580.00 in a report released on Thursday,MarketScreener reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 1.40% from the stock’s previous close.

Several other brokerages have also weighed in on DE. Oppenheimer reaffirmed an “outperform” rating and issued a $715.00 target price on shares of Deere & Company in a research report on Friday, February 20th. Bank of America upped their price target on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Wells Fargo & Company lifted their price objective on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their target price on Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $650.95.

Deere & Company Price Performance

Deere & Company stock opened at $572.02 on Thursday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The firm has a 50 day moving average price of $582.44 and a 200 day moving average price of $511.48. The company has a market cap of $154.51 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.97 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter last year, the firm posted $3.19 earnings per share. Deere & Company’s revenue was up 17.5% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Institutional investors and hedge funds have recently bought and sold shares of the stock. Howard Hughes Medical Institute purchased a new position in shares of Deere & Company in the second quarter valued at $27,000. Strategic Advocates LLC purchased a new stake in Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC purchased a new stake in Deere & Company during the 4th quarter worth $27,000. Timmons Wealth Management LLC acquired a new position in Deere & Company in the 4th quarter worth $29,000. Finally, McIlrath & Eck LLC purchased a new position in Deere & Company in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.